The Philippine Stock Exchange has approved the stock rights offerings of the Bank of Philippine Islands and Philippine National Bank involving a combined P40-billion worth of shares.

A PSE circular shows that the Ayala-led BPI will offer up to 395 million common shares at P10 apiece.

BPI will utilize mainly the P25-billion estimated gross offer proceeds to support critical strategic growth initiatives such as loan growth and to strengthen its core Tier-1 equity in light of the implementation of Basel III.

‘Night market' posts
27.6% profit hike

The income of the Christmas Weekend sa Kapitolyo night market that is now on its second week, increased by 27.6 percent, records from the Negros Occidental provincial government showed yesterday.

The night market earned P108,021 last weekend, while its profit during the first week was only P84,629.

Of the P108,021, earned from food concessionaires was P57,135, and P33,576 from agricultural products concessionaires, with the rest from plants and other garden ornaments being sold in the area.

715 chicks distributed

As part of the Negros First livestock and poultry dispersal of Gov. Alfredo Marañon Jr., 715 kabir chicks were distributed to the Negros Occidental provincial government breeding centers in Kabankalan City and in the towns of Hinoba-an and Candoni recently.

Provincial Veterinary Office livestock coordinator, Cathyrine Narez, said yesterday that 40 piglets were also distributed to hog raisers associations in Cadiz City and Toboso town.

Narez said they will also distribute 20 additional piglets to the Sagay Hog Raisers Association today.